MENA's Regional Funding Institutions
The past few years have been record years for MENA in technology startup funding with more than 50 investment institutions launched since 2016 and $900M invested since 2014.
Last year, some of the big deals included a $125M investment in Starz Play (UAE), $20M investment in PayTabs (Saudi Arabia), $12M investment in Wego (UAE), $4M investment in Foodics (Saudi Arabia), and $1.5M investment in Nalbes (Kuwait). Moreover, Carriage was acquired by Delivery Hero for a disclosed amount of $100M and Souq.com was acquired by Amazon for $580M.
Today, the MENA region is witnessing a growth in the number of new funding institutions and is currently home to over 100 active institutional investors. In addition to speaking to some of the key investors across the region, we at ArabNet decided to map out and profile the funding institutions in 9 of MENA’s key markets. You can find our map below, and the first profile on UAE-based Lead Angels here.